Prepare the required budgets for a company that produces a specialized product in three different sizes (SML, MED and XXL) using the data provided next. (25 points) Expected sales (units) Product Price per unit June July August SML $600 17000 12000 15000 MED $800 12000 17000 14000 XXL $1,000 4000 4000 4000 The company has very strict ending inventories policies for all products as shown below: 30% of next month production for raw material 20% of next month sales for finished goods At the end of May the company is complying as expected with the inventory policies. Additional data is included in the following table related to direct material and direct labor requirements: Direct material Direct labor Product Lbs. per unit $/lb. Hrs. per unit Hourly salary SML 11 $6 6 $11.20 MED $8 8 $11.20 XXL 18 $10 10 $14.00 14 Elegir... Elegir... . > Elegir... What is the sales budget of the SML product for the month of June? (3 pts) What is the sales budget of the MED product for the month of July? (3 pts) What is the sales budget of the XXL product for the month of August? (3 pts) What is the production budget of the SML product for the month of June? (5 pts) What is the direct labor budget of the MED product for the month of July? (5 pts) What is the direct material purchases budget of the XXL product for the month June? (6 pts) Elegir... > Elegir... Elegir